If you run a civil contracting company, bumping into accidents or issues can be inevitable. To ensure your business and your personal finances are well protected, you need a few insurance policies in place. Wondering what you need? Well, it varies based on your unique situation, but here are some essential policies to consider.
1. Worker's Compensation
Contracting work can be dangerous. Bricks may fall on your worker's heads, your employees may get hurt by machinery or other accidents may happen.
Workers compensation is a type of medical coverage that helps to pay for treatment, prescriptions, and time off work due to a work-related injury or illness. However, there are some stipulations about what is and isn't covered under workers compensation. Here are some questions to ask yourself when figuring out if your injury might be covered.
Is the Injury or Illness Mental or Physical?
With a work-related injury or illness, it is more easily covered if it is a physical injury, but that doesn't mean mental issues related to your job aren't covered.